IMPS or Immediate Payment Service is one of the fastest and easiest methods to transfer funds from one savings account to another. IMPS is an instant interbank electronic fund transfer facility that is used by millions of people across the country to transfer funds.
Unlike NEFT transfers, funds are immediately transferred in IMPS transfers regardless of bank timings and holidays. Indian Overseas Bank is one of the leading banks in India that offer IMPS facility to its customers. If you are an Indian Overseas Bank customer looking for information about their IMPS services, read on.
All Indian Overseas Bank account holders can opt for the IMPS facility. Customers should register their mobile number with Indian Overseas Bank to enjoy this service. Other eligibility criteria to avail the Indian Overseas Bank IMPS fund transfer facility are:
Some of the features of the Indian Overseas Bank IMPS Fund Transfer facility are:
Please follow any one of the following methods to transfer funds using IMPS transfer facility:
Net Banking-
Mobile Banking-
Beneficiary details required for Indian Overseas Bank IMPS
You will need the details mentioned below to transfer funds using the Indian Overseas Bank IMPS facility:
When you register for mobile banking, you will receive a 7-digit MMID with your primary account details. The MMID will be sent to you via SMS to your mobile number.
You will have to walk into the nearest Indian Overseas Bank branch office if your mobile banking registration failed at an ATM.
You can transfer funds using IMPS as many times as you want. However, the maximum amount you can transfer is capped at Rs.50,000 per day.
You can add and approve only one beneficiary in one calendar day. The beneficiary will be activated within 4 hours if you made the approval between 6:00 a.m. and 8:00 p.m. (IST). Beneficiaries added after this slot will be activated the next day post 8:00 a.m. Please try after 24 hours.
No, the IMPS service cannot be used to transfer funds abroad. It can only be used to transfer money to IMPS member bank accounts within India.
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